Save Article

Toshiba's First-Quarter Loss
Nearly Doubles; PC Sales Slide

Dow Jones Newswires

Updated July 30, 2003 9:02 a.m. ET

TOKYO -- Toshiba Corp. spilled even more red ink in its fiscal first quarter, as profits from its personal-computer business suffered from a cutthroat price war in overseas markets, particularly in North America.

In grim earnings results released Wednesday that knocked 8% off its market value, the Japanese electronics giant said it booked a group net loss of &yen;36.8 billion ($306.9 million) for the April-June period, deeper than its &yen;18.8 billion loss in the first quarter of the previous fiscal year.